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Yesterday’s Trading:My Wednesday expectations for the euro came off in full. The U-turn for the euro/pound after UK stats came out piled pressure on the euro/dollar. The rate fell to 1.0890 despite the fall in the US stock indices. Negative US stats also couldn’t change how the cards were being played as the ECB meeting and Draghi speaking approaches.

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Yesterday’s Trading:Tuesday’s trading in the States closed with the euro/dollar at 1.0858. The euro dropped to this level due to stock indices and oil prices rising. The euro strengthened during the American session because of oil and a sharp U-turn for the euro/pound after the Bank of England’s governor Carney gave a speech. He noted that the UK economy is weak and that now is not the time to raise interest rates. The pound crumbled against the dollar with his words by a total of 150 points. The euro/dollar had risen to 1.0938 by the end of the day.

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Yesterday’s Trading:On Monday the euro/dollar spent the day below 1.0900 due to Martin Luther King day in the US. The stock market situation stabilised. Market participants weren’t active as the release of Chinese stats approached.

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Yesterday’s Trading:The euro/dollar on Thursday formed a spike. The strengthening of the euro to 1.0942 was caused by Reuters and a fall in European stock indices. Reuters relayed that the majority of ECB representatives are against a further loosening of monetary policy and at that moment the stock indices were trading down by 2-3%.

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Yesterday’s Trading:The euro/dollar renewed its maximum of 1.0804 to 1.0887. The euro’s strengthening was facilitated by two factors: a fall in American stock indices and in oil prices after the US Ministry for Energy published its oil reserve report.

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Yesterday’s Trading:Yesterday the GBP fell throughout the market and forced the euro bulls to drop to 1.0819. The UK industrial manufacturing index fell to a three year low. Other key currencies followed the pound downwards. After trading closed in Europe, the euro/dollar returned to the LB at 1.0877.

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Analysis of Forex currency pairs EURUSD the price is sandwiched in a narrow sideways range. The price is in the mouth of the Alligator indicator, it is indicating the possibility of an abrupt movement both Up and Down.

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